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French Unemployment Rises Most in Three Years to Record Level
The recovery in France appears to have stalled already, and this is from
employment data before the terrorist attacks. Via translation from Les Echos
...
The number of Class A unemployed rose by 42,000 last month. This is the
largest increase in nearly three years. Overseas included, France now has 3,
810,000 unemployed, a new record.
The major disappointment is for the Government, which hoped that the
sharp decline in September finally marked the beginning of the reversal "
credible" and "sustainable" in the curve of unemployment to which Hollande
has conditioned his candidacy for re-election in 2017.
"These figures are not satisfactory," euphemized Myriam El Khomri, the
labor minister, while adding they "must still be interpreted with caution
because the results of recent months experiencing strong variations."
Economists point out that the attacks in Paris strengthen the
uncertainties about the pace of recovery in France. They fear a decline in
activity in tourism and catering that would inevitably damage employment.
compare the above assessment with an amazing statement by economist Nouriel
Roubini: "Positive Impacts of Paris Attacks Modest Unless More Attacks
Follow" |
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